OLA becomes India’s largest cab booking service. It becomes one of the fastest growing business in India. In Dec 2018, OLA was valued at approx. $5.7 billion. At the end of 2019, OLA is planning to launch in 50 cities globally. It solves the public’s transport problem gave them a good cab service at a reasonable price. The people who used to travel in local trains with innumerable risks are now going for OLA services.
OLA – India’s largest cab booking service
OLA is owned by ANI Technologies Pvt. Ltd. commonly known as Olacabs. The company started on 3 December 2010 in Mumbai and after 8 years it was valued at approx. $5.7 billion. Now OLA has a network of ten lakhs vehicles across 169 cities. The company has its office now in Banglore. From one last year, OLA is expanding its services and rides. It makes an OLA ride customer friendly. One can book from a budget auto to luxury cars. This extraordinary feature makes it different from other transport services.
Founders of OLA
Bhavish Aggarwal completed his bachelors in computer science from IIT Bombay in 2008. After that, he started his career with Microsoft Research India. He worked for two years. As entrepreneurship is his passion, so he started with some sort of company which provides short duration tours and holidays online which later on turns into OLA. In January 2011 he co-founded the company with his college mate Ankit Bhati.
Ankit Bhati completed his graduation from IIT Bombay in 2008. He completed his bachelors in Mechanical Engineering and masters in CAD and Automation. He worked with several freelance projects like Wilcom, QED42 etc.
Journey to Startup-idea
The journey of OLA’s startup is not so simple as to book a cab on OLA app. There are lots of ups and down. Initially, the company started with OLAtrip.com which provides short duration tours and holidays online. Someday Bhavish had to go from Banglore to Bandipur regarding his business of short duration tours and holidays. So, he takes a taxi, and in the middle of his destination, the driver was negotiating for the rent which he was paying. He refused to pay and had to leave the taxi in the middle of the route. That was a bad experience for him. But later on, this bad experience helps him to build his empire.
Then, he changed his old business into a new one, unique and comfortable way of online cab booking service. And then the domain name change from OLAtrip.com to OLAcabs.com.